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Ritchie Bros.’ Ontario Auction Breaks Records

May 16, 2016, 07:04 AM
Filed Under: Auction News

Two weeks after its largest Canadian auction ever in Edmonton, Alberta, Ritchie Bros. was breaking records again with its largest Ontario auction ever. On May 11-12, 2016, Ritchie Bros. sold more than 3,000 equipment items and trucks for CA$36+ million (US$28+ million) at its Toronto site.

The unreserved auction attracted 4,050+ bidders, in person at Ritchie Bros.' Toronto auction site (in Bolton) and online. About 89 percent of the equipment was sold to Canadian buyers. Buyers from the United States purchased 9.5 percent.

"The size of this Toronto auction reflects the trust our customers place in our unreserved auctions," said Anna Sgro, Senior Vice President, Ritchie Bros. "We helped hundreds of sellers reach competing buyers from every province and 44 other countries, both on-site and online—no one else delivers that kind of audience. Online buyers purchased more than CA$16 million of equipment, or 46 percent, which is a new Ritchie Bros. record in Ontario, showcasing the strength of our internet bidding platform."

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